iCharts Discussions

[seshareddy]

hi all

enjoy with hour chart trendline


seshareddy

[hbanerji]

sesha ji, yes, this is in the right direction.
a small suggestion, if i may... we draw new trendlines whenever there's a higher low or a lower high. these are not primary trends unless they override the major ongoing trends. but they give us an insight into the process of corrections and reversing.

i have used ur chart to mark secondary trends. you can study the crossovers and their effects.

also, you may use these trendlines to devise a trading strategy. in my setup, i will short the first red candle at or above the trendline indicating resistance, unless an immediately prior higher low was seen. sl remains to be calculated. a fair measure will be to use a fib calc as provided by icharts. the reverse may be the approach for the support trendline[/img]

[seshareddy]

HI hbanerji

excellent your secondary lines

yes we can short at long length trendline wall

i will short when candlestick reversal pattern happens generally

for example when mkt reached 6062 next candle is bearish engluf


seshareddy

[seshareddy]

daily chart enclosed


seshareddy